WEX Inc. is a leading and growing global provider of payment processing, information management and fleet card payment solutions.
We hire people who share our passion for continuous innovation and client service that is unparalleled in the industry.
If you are looking for a growing career – come be part of WEX today!
Great Place To Work-Certified.
Job Title: Director, Strategic Business Development (New Business Ventures)
The New Business Ventures team mission is to explore, build and Launch new growth potential opportunities.
New Business ventures team focus on 4 major areas:
- Business Development: Research/Develop/Build Business Opportunities. Exploring growth in new geographies,segments, technologies and products.
- Strategic Partnerships: Leading an Innovation Agenda with Key Partners to grow in new global ecosystems.
- Global Product Roadmap: Leading early stage development and incubation of new assets, platforms or products
- Innovation Programs: Managing WEX's innovation agenda and initiatives. Within the NBV team the “WEX Innovations” program is responsible for developing, planning, executing and accelerating the commercialization of the strategic initiatives. WEX innovation programs include the
innovation development process from “Idea generation” to “incubation and learning”
- Outreach: Investing in initiatives with academic, technology, Venture Capital and startup accelerators to build outreach in new communities (Fintech, eHealth, Electric Vehicles as examples)
NBV offers an uncommon opportunity to build a strong, thriving career. We are fueled by our team of talented people who continuously raise the bar on delivering the best solutions and security of digital corporate payments to companies all over the world. Join our team and have fun while
developing your career at WEX.
The Dir, Strategic Busines Development: This role is a mix of Initiative/Project Leader, strategy and business development position within our WEX NBV organization.
Are you passionate about conceptualizing, nurturing, developing and proving new ideas and developing them into new solutions?
Would you like to help create the next major innovation in and around the payment landscape pioneering and leveraging the most advanced devices, hardware and software in the world, anything and everything in and around world's largest payment and technology ecosystems?
Are you looking to join a start-up or an incubator so that you could convert your ideas into real products? Come join us.
The Strategic Business Development Director (New Business Ventures) will be responsible to evaluate and manage new strategic business opportunities, initiatives, mergers, acquisitions, partnerships, alliances and/or joint ventures.
The Director oversees market analysis, monitors competitive activity, and identifies customer needs while providing senior leadership in the planning, designing, due diligence, and implementation of strategic business objectives.
This role supports the definition of the vision and strategy & tactics while collaborates with others teams to reach these objectives.
This position will collaborate with all functions across the corporation (marketing, legal, business lines, finance, product, technology) to identify priorities and make sure the initiatives can be flawless executed and successful.
The individual will work closely with functions across WEX to understand current market dynamics and WEX capabilities.
The individual must be capable of working independently and creatively to validate the key growth strategies and implementation plans.
At the appropriate time, the individual will collaborate with the technical teams, product management, and finance on growth options. Individual must be able to articulate concepts in a clear, concise and persuasive manner.
Minimum Required Qualifications for Consideration:
• Responsible for defining the WEX market environment and identifying key new business growth opportunities
• Responsible for all aspects of researching and developing the strategy and execution plans for the new business opportunity or target market.
• Research, synthesize and articulate market positions and business/corporate development opportunities in the target market or to address the new business opportunity.
• Analyze market, economic, technical trends and business performance to create/update the strategy and develop an implementable plan for strategic initiatives
• Research, analyze and present business/financial information in support of strategic recommendations.
• Provide relevant thought leadership internally and externally
• Lead program management of selected initiatives through innovation journey(Idea to Incubation/Learning) via a hands-on “do-whatever-need-to-do” winner and inspiring attitude.
• Provide thought leadership in the development of some strategic initiatives, drive value-creating insights, recommendations, and solutions across multiple lines of business and geographies.
• Associated research and analysis, including business opportunity analysis. New Business Innovation process.
• Identify new product/business ideas and vet/develop through stage 3 of the strategy process (up to implementation)
• Lead or support new product innovation, product roadmaps, pricing strategy and programs, and channel strategies
• Create the business justification, business plan, go to market strategies and oversee the work to progress new initiatives
• Advocate and oversee, if appropriate, incubation of strategic initiatives. May include launch of new business areas as incubation programs, prototype/proof of concept planning and development to prove new business.
• Oversee migration into operational structures.
• Interface with planning and budgeting, HR, to ensure alignment and adoption of the initiatives.
• Identify candidates for material partnerships and/or acquisition to execute on an approved strategy.
• Develop relationships and carry through to close of business arrangement and maintain as appropriate.
• Business Plan Development and Business Case Modeling
• Develop Product concepts via Co-creation and Collaboration with key partners and clients (non-technical).
Innovation process management
• Develop initiatives through the Innovation Pipeline till incubation/spinoffs
Minimum Required Qualifications for Consideration
• Knowledge of the financial payments industry (fintech or traditional banking/commerce/payment network)
• Proven Industry-specific Bachelor’s degree in Business, Technology, Marketing, Engineering or Finance; or equivalent work experience required
• Five (2) years of experience in the payments, commerce or technology space
• Five (5) years of demonstrated experience in strategy, product development and/or business leadership
• Excellent grasp of strategy development and execution.
• Financial acumen and business case proficiency, including scenario modeling.
• A thorough knowledge of the commerce/payment and technology industry including competitive landscape, key industry and technology trends and customer needs
• Must have specific expertise in payments and financial technology or B2B eCommerce.
• Familiarity with multi-channel marketing (B2B)
• Experience defining and launching products (i.e., bringing product to market from ideation to Launch with measureable results).
• Proven ability to manage and lead in a matrixed organization. Very strong interpersonal and influencing skills required
• Excellent customer relationship management skills required
• Proven ability to manage a divisional budget, including pricing to insure revenue targets are met
• Strong organizational and communication skills required
• Proven performer in a collaborative, team environment
• Proven strategic leadership skills managing a cross-functional team.
• Highly developed analytical skills and oral/written presentation ability, esp. for senior leadership audience.
• Demonstrated experience with global business.
• Must pass a successful background investigation
• Ability to travel via land and air nationwide, minimally 10% of the time
• MBA or relevant Masters (Technology or Finance) strongly preferred.
• Professional training in Design Thinking, Innovation or Product Management at a recognized institution is a plus.
• Experience in the financial payments industry is highly desirable.
• Experience with a premier consulting company or Management Consulting is a plus.
• Prior Innovation Management role experience is preferred.
• Knowledge in Product management is preferred.
• Knowledge (Business and Product) of new Digital Ecosystems like Electric Vehicle, Connected Cars, Consumer Payments or Blockchain is preferred.
• Strong leadership, mentoring & coaching skills
• Demonstrated experience working with 3rd party vendors and suppliers putting together deals, managing relationship etc.
At WEX, we reward innovation, hard work and excellence.
· 401(k) Plan
· Adoption Assistance
· Bonus Plan
· Dental Insurance
· Dependent Life Insurance
· Employee Assistance Program
· Employee Referral Award Program
· Expedition - WEX’s Sabbatical Program
· Extended Parental Leave
· Flexible Spending Accounts (Medical and Dependent)
· Health Insurance
· Life Insurance/AD&D
· On Site Fitness Facility in South Portland location
· Pet Insurance
· Paid Time Off(PTO)
· Short- and Long-Term Disability Programs
· Tuition Reimbursement